and don t forget to download the 5 things podcast every morning, just go to cnn.com/5things. just in, a few minutes ago, a key inflation measure, another one, has been released. chief business correspondent christine romans here. what do the numbers say? it is a rare reprieve in this runaway inflation story again, john. producer prices fell from june to july. 0.5%. fell, we haven t been able to say something like that in months. the overall inflation rate, the factory level inflation rate at 9.8%, much cooler than expected. we look at a line chart of what that looks like. you can see it feeds into that inflation peaking narrative that we have been talking about. you can see the peak was back in march of something like 11.6%. that was the highest ever on record. now, 9.8%. gasoline prices the big driver here, 80% of this decline, you can attribute to the lower fuel prices that were really helpful on factory floors, where they re
inflation. back in 2008 it was at 5%. we are now at 8.5%. maria bartiromo knows all about this. good morning. thank you for joining us. your analysis on the numbers that we have yesterday and today. how do you see it? bill, thank you very much. good morning. they are better than expected and moving in the right direction. yesterday we saw the consumer price index come way down from the month of june in 8 1/2%. better than the 9.1% in june. same situation today with inflation at the production level. producers are seeing inflation up but not as bad as the month of june. we had a reading of up 9.8% in the month of july. that s down from the 10.4% that was expected and down from the 11% that we saw in june. bottom line here, what we are seeing is the price of oil come down. we were expecting a pretty good number on cpi and ppi. look what happened in the month
to be getting more expensive. what level is food inflation running at? according to the latest data from the ons. according to the latest data from the ons, it s running at 9.8%, marginally higher than the overall rate of marginally higher than the overall rate of inflation. things like dairy. rate of inflation. things like dairy, like milk, cheese, and eggs is causing dairy, like milk, cheese, and eggs is causing a dairy, like milk, cheese, and eggs is causing a big drive in prices, but also is causing a big drive in prices, but also vegetables and meat, a law in the but also vegetables and meat, a law in the fresh but also vegetables and meat, a law in the fresh food sector has been driving in the fresh food sector has been driving up in the fresh food sector has been driving up. but it s running higher than driving up. but it s running higher than overall inflation. than overall inflation. thank you. hila , a than overall inflation. thank you. hilary. a couple
don t feel embarrassed about it now. . , ., now. that is the impact of broad-based now. that is the impact of broad-based rapidly - now. that is the impact ofi broad-based rapidly rising broad based rapidly rising prices in real life, this is what it looks like over decades. heading higherten what it looks like over decades. heading higher ten to 11% in the autumn, with food prices up 9.8% overall, but alone up 22%. fuel prices up a2% in energy prices are up 70% over the last 12 months. derby is a city famous for manufacturing, the bank of england ruled that labour shortages threaten to keep inflation higherfor shortages threaten to keep inflation higher for longer. shortages threaten to keep inflation higherfor longer. at inflation higher for longer. at this inflation higherfor longer. at this cutting edge carbon fibre factory supplying formula 1 cars and fighterjets they are seen just that. we cars and fighter ets they are seen just that. seen just that. we have training seen j
prices up 9.8% overall, but are alone up 22%. fuel prices were up 42%, and energy prices up 70% over the last 12 months. derby is a city famous for manufacturing, the bank of england governor last night warned that a specific uk factor, labour shortages, threatened to keep inflation higherfor labour shortages, threatened to keep inflation higher for longer. labour shortages, threatened to keep inflation higherfor longer. at this cutting edge carbon fibre factory supplying formula 1 cars and fighter jets, back and just that. hate supplying formula 1 cars and fighter jets, back and just that. jets, back and ust that. we train and develop jets, back and just that. we train and develop in jets, back and just that. we train and develop in this jets, back and just that. we train and develop in this industry - jets, back and just that. we train and develop in this industry and l and develop in this industry and they are well paid, long term jobs, i hope. they are well-paid, long-term